This report represents an in-depth analysis of the global smart home technology market by component, technology, application and region. It discusses the different segments of smart home technology to derive specific market estimations. It discusses a comparative study regarding the ways the technology has improved people’s lifestyles people and also saved energy. The report also discusses strategies adopted by major players in the global smart home technology market. Patent analysis provides a snapshot of technological trends in the global market over time, as well as regionally, particularly for the U.S., Europe and Japan.

The global smart home market, with an impending demand for a universal solution, is driven by the intense focus of industry participants on pushing solutions across the mainstream market. This has led to multi-pronged developments, especially in the field of networking technologies. With both proprietary and open-source platforms seeing new technologies being added on a daily basis, consumers are faced with the challenges of integrating these complex platforms into a single home technology system. Due to these and many other factors, the smart home market is expected to grow at a compound annual growth rate (CAGR) of REDACTED between 2017 and 2022 to attain a market value of REDACTED in 2022. Driven by shifts in consumer behavior and technological developments, the market has been shifting from a luxury market into a mainstream market, and many new players are entering the mark.et as a result.

Smart home technology is still at the nascent stage because it is adopted by a small percentage of the population. According to Ashish Sharma, Director at Phynart, the advent of technology and a reduction in device prices are likely to result in the market growing at a healthy rate in the coming years.

The global smart home market, which until now was considered as an elite market, has been witnessing growing popularity across widespread social segments. The development of wireless, open and standard technologies has enabled this transition. This has helped to reduce the cost of wiring and labor, thus reducing overall prices. In addition, the presence of many players has induced price competitiveness, forcing them to develop mainstream solutions. The entry of telecommunications, cable companies, utilities and security service providers into the smart home market has helped to drive demand. Intense competition is rising among players, who are looking for technological innovations, alliances, and mergers and acquisitions as strategies to expand and retain their market shares. The market revenue was REDACTED in 2016, and it is expected to reach nearly REDACTED in 2022, growing at a CAGR of REDACTED during the forecast period.

The various applications of the smart home market include heating, ventilation and air conditioning (HVAC); lighting; water; entertainment; and fire safety and security. Currently, the smart home technology is largely used in the safety and security application, giving this segment the largest revenue share at REDACTED in 2016. It is expected to remain the largest market and to reach REDACTED by 2022. The entertainment application is expected to have the highest CAGR of REDACTED from 2017 through 2022.

The market is regionally segmented into North America, Europe, the Asia-Pacific region and the Rest of the World (RoW). North America had the highest revenue in the market in 2016 at REDACTED, and it is expected that it would continue to dominate the revenue share with a value of REDACTED in 2022.
North America is a technologically advanced region, so smart home technology initially formed a strong base in this region. The Asia-Pacific region is expected to have the best potential market growth, with an estimated CAGR of REDACTED from 2017 through 2022. Emerging nations in this region are experiencing substantial economic growth, which is expected to drive the growth of the smart home market during the forecast period.

- 24 data tables and 46 additional tables
- An overview of the global market for smart home technologies
- Analyses of global market trends, with data from 2016 to 2017, and projections of compound annual growth rates (CAGRs) through 2022
- Analysis of the market by type, product, networking technology, and by region
- Insight into the market through market sizes, revenue forecasts, value chain, and market and product trends
- Discussion of current and future trends and analyses on the basis of competitive technologies
- Description of the competitive landscape, including leading players and their key developments, strategies, and profiles
- Profiles of the key companies in the market, including ABB Ltd., Amazon.com Inc., Control4 Corp., Daintree Networks Inc., General Electric, Google Inc., IBM and Schneider Electric SE

Orbis Research (orbisresearch.com) is a single point aid for all your market research requirements. We have vast database of reports from the leading publishers and authors across the globe. We specialize in delivering customized reports as per the requirements of our clients. We have complete information about our publishers and hence are sure about the accuracy of the industries and verticals of their specialization. This helps our clients to map their needs and we produce the perfect required market research study for our clients.

MOSCOW — A gravelly voice rings out from the phone's loudspeaker: "Aren't you scared of me?" The man on the screen, 32-year-old Chechen video blogger Tumso Abdurakhmanov, frowns. "I'm not scared of people like you," he says, looking into the camera. "But you people are cruel, so I'm always on my guard." He was apparently talking to one of the most feared men in the Russian province of Chechnya, Magomed Daudov, the right-hand man of strongman Ramzan Kadyrov. Kadyrov and his security forces have been widely accused by international rights groups of extrajudicial arrests, torture and killings — and Kadyrov...

BEIJING — The U.S. government said Tuesday that it is reviewing reports of forced labor at a Chinese internment camp where ethnic minorities are sewing clothes that have been shipped to the U.S. market. U.S. Customs and Border Protection said in a statement that reporting by The Associated Press and other media "for the first time appears to link the internment camps identified in Western China to the importation of goods produced by forced labor by a U.S. company." The AP tracked shipments from a factory in a camp in China's far western Xinjiang region to Badger Sportswear in North...

PARIS — French police protesting overwork and thousands of unpaid hours were dragging their feet at passport check-in lines in at least one terminal at Charles de Gaulle airport, creating long lines of waiting passengers. The airport police prefecture said that the Wednesday slow-down was currently hitting only Terminal 1, and any delayed check-ins at two other terminals were due to a high number of passengers. The delays came as the Alliance police union called on police officers across France to handle only emergencies amid negotiations with the Interior Ministry for compensation after weeks containing protests by the grassroots yellow...

OSLO, Norway — A silent revolution has transformed driving in Norway. Eerily quiet vehicles are ubiquitous on the fjord-side roads and mountain passes of this wealthy European nation of 5.3 million. Some 30 percent of all new cars sport plug-in cables rather than gasoline tanks, compared with 2 percent across Europe overall and 1-2 percent in the U.S. As countries around the world — including China, the world's biggest auto market — try to encourage more people to buy electric cars to fight climate change, Norway's success has one key driver: the government. It offered big subsidies and perks that...

BRUSSELS — Belgium's King Philippe is consulting leaders of political parties to work out who should govern the country until the next elections after Prime Minister Charles Michel handed in his resignation. The king was expected to meet several party leaders Wednesday as he weighs whether to keep Michel temporarily in office at the head of a caretaker government or support any call for early elections. Michel announced in parliament Tuesday that he would submit his resignation as pressure built on his government this week after the biggest party in his coalition quit over his support for a U.N. migration...

Subscribe to our newsletter!

Your Name

Email Address

Broaden

About Us

Think Business Today covers every aspect in the business world to make sure everyone is keeping up with the current trends. When you think of business news, you think of Think Business Today.